The post ZachXBT Blasts Circle Over Drift Hack, Solana CCTP Leak appeared on BitcoinEthereumNews.com.

Blockchain investigator ZachXBT has reportedly renewed his criticism of Circle, the issuer of USDC, over what he describes as inaction following the Drift Protocol exploit on Solana, with secondary reports alleging that stolen funds moved off the chain through Circle’s Cross-Chain Transfer Protocol. The Drift hack, which surfaced on April 1, is shaping up to be one of the largest DeFi exploits of 2026. Estimates of the damage range from more than $200 million to as high as $285 million, and the protocol immediately paused deposits and withdrawals while it investigated. More than $200M, with some estimates as high as $285MDecrypt reported the exploit affected more than $200 million, with some estimates reaching $285 million. The incident triggered a sharp collapse in Drift Trade’s total value locked. DeFiLlama data shows TVL falling from $311.38 million to roughly $23.49 million between April 1 and April 2, a decline of approximately 92.5%. Why ZachXBT Is Criticizing Circle Again According to unconfirmed secondary reports, ZachXBT accused Circle of failing to freeze stolen funds quickly enough after the Drift exploit. The criticism follows a pattern; ZachXBT has previously called out Circle over response times in other hacking incidents. No directly fetchable primary post from ZachXBT confirming the specific statements tied to this incident has been independently verified at the time of publication. The accusation was reported by aggregator outlets but has not been corroborated by a first-party source. The core allegation is that Circle had the ability to blacklist or freeze USDC addresses linked to the stolen funds but did not act fast enough, allowing the attacker to move assets off Solana before any freeze could take effect. How Stolen Funds Reportedly Moved From Solana Through CCTP Circle’s Cross-Chain Transfer Protocol enables USDC to move natively between blockchains through a burn-and-mint mechanism. When a…

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Filed under: News - @ April 2, 2026 2:25 am